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Izzy Englander’s hedge fund manager Millennium Management gained 2.5 per cent during December, bringing gains for 2024 to 15 per cent, according to investors.
The $72.1bn firm is one of the most prominent multi-manager hedge funds, and allocates capital across more than 320 investment teams, trading a range of different strategies. It had made a 6.9 per cent gain in the first half of the year.
Millennium declined to comment.
The firm’s full-year performance lagged that of the S&P 500, which rose more than 23 per cent in 2024.
Multi-manager hedge funds typically employ tens or hundreds of teams of traders across a variety of asset classes and strategies, all controlled by a centralised risk system that is designed to prevent big losses.
Millennium, founded by Englander in 1989, is one of the largest multi-manager hedge funds in the world.
https://www.ft.com/content/d2366f93-cd10-4306-9b03-c6dfc2d12518
